Client letter: New law's tax provisions that affect …

The TCDTR extends the CARES Act credit, Employee Retention Credit) allowed against the employer portion of the Social Security (OASDI) payroll tax or of the Railroad Retirement tax, for qualified wages paid to employees during the COVID-19 crisis. Under the extension, qualified wages must be paid before July 1, 2021 (instead of January 1, 2021). Additionally, beginning on January 1, 2021, the ... ................
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